After spending September consolidating in the $300 - $350 range, CIENA (CIEN) broke out. The stock gained 13.85% to close at $443.65.
CIEN stock joins that of Lumentum (LITE), an optical networking firm that rallied last week. Analysts issued bullish reports on CIENA last month. Most notably, Gerstein wrote that the company is in the early stages of an optical-networking growth cycle. It benefits from AI-related customers.
Corteva (CTVA), a pure-play agriculture company, jumped by 12.27% to close near $14.00. The stock needs to continue its rally to confirm an uptrend. Analysts at J.P. Morgan raised their rating on CTVA stock to Overweight, up from Neutral.
Corteva separated its seed business to Vylor (VYLR). The newly formed Corteva holds the firm’s crop-chemicals business. The gross margin potential is 38%.
CTVA stock is inexpensive. It trades at 6 times EBITDA for 2027. By comparison, FMC, which has a more leveraged balance sheet, has more risks.
In the nuclear energy segment, Constellation Energy (CEG) bounced from a $250 support level. The stock has established that floor since June. The stock rose on Tuesday when it formed a collaboration with Alphabet (GOOG). The latter will get 890 MW of new nuclear capacity. Constellation will deliver the nuclear energy by 2028.
Markets are overly optimistic about CEG stock. Regulators might take five or more years to review the upgrades. That would push out the 2028 target date.
Related Stories
